HOUSTON,
March 22, 2015 /PRNewswire/
-- FMC Technologies, Inc. and Technip today signed an
agreement to form an exclusive alliance and to launch Forsys
Subsea, a 50/50 joint venture that will unite the skills and
capabilities of two subsea industry leaders. This alliance will
redefine the way subsea fields are designed, delivered and
maintained.
Bringing the industry's most talented subsea professionals
together early in the project concept phase, Forsys Subsea will
have the technical capabilities, products and systems to
significantly reduce the cost of subsea field development and
provide the technology to maximize well performance over the life
of the field.
By combining the industry-leading technologies of the parent
companies, Forsys Subsea will reduce the interfaces of the subsea
umbilical, riser and flowline systems (SURF) and subsea production
and processing systems (SPS). It will also simplify the seabed
layout, reducing complexity, accelerating time to first oil, and
maximizing sustainable peak production. This unique combination
will drive a new, step-change approach to how equipment designs and
installation methods converge in a new generation of subsea
architecture.
Gathering the expertise and experience of its parent companies,
Forsys Subsea will focus on:
- Early involvement in the concept selection phase of front-end
engineering and design, when ability to influence cost is
greatest.
- Integrated life-of-field well surveillance, monitoring, data
interpretation and advisory services.
- Joint R&D to drive technological innovations that will
boost efficiency and further reduce development costs.
In addition, the alliance will be uniquely positioned to deliver
and install a seamless subsea infrastructure from seabed to topside
by eliminating interfaces and by integrating SPS with SURF,
attaining the highest reliability and uptime and the lowest total
ownership cost available in the industry.
"The world needs new sources of oil, and deepwater holds the
greatest promise of meeting this demand. But these sources are
expensive to develop, and operators will not pursue them unless
they can significantly reduce costs," said John Gremp, FMC Technologies Chairman, President
and Chief Executive Officer. "This requires not just incremental
improvements, but step changes and new ways of thinking. Service
providers must be involved at the project concept stage, provide
innovative technology that reduces costs, standardize processes and
equipment for greater efficiency, and execute flawlessly. The
creation of Forsys Subsea with an industry leader such as Technip
embodies this new way of thinking to a degree that's never
been done before."
"In today's fast-changing environment, clients require closer
relationships with, and more integrated solutions from, their
partners of choice. This imposes a new way of working in the
industry," said Thierry Pilenko, Technip Chairman and CEO. "Beyond
products, we need to design optimized development concepts. Beyond
concepts, we need to be strongly focused on the practicalities of
project execution. Simplicity, standardization, innovation,
technological creativity and delivering tangible results to clients
— this is exactly what Forsys Subsea is about, and we are delighted
to make this step a reality with FMC Technologies."
After closing and upon launch of the joint venture, Forsys
Subsea will have a workforce of 320 people and will be supported by
the 58,000 employees of FMC Technologies and Technip. The company
will be headquartered in London,
with regional hubs in Oslo,
Houston, Paris, Rio de
Janeiro and Singapore.
The leadership team of Forsys Subsea will include Rasmus Sunde (FMC Technologies) as CEO,
Alain Marion (Technip) as Chief
Technology Officer (CTO), Arild
Selvig (FMC Technologies) leading front end engineering and
Gerald Bouhourd (Technip) leading life of field.
FMC Technologies and Technip will have 50/50 ownership of Forsys
Subsea. The transaction is subject to regulatory approvals and
other customary closing conditions.
Visit www.forsys-subsea.com for more information.
FMC Technologies and Technip will host a joint call on
Monday, March 23 at 8 a.m. Houston /
2 p.m Paris time to provide more
information about this alliance.
To participate in the conference call, you
may call any of the following telephone numbers
approximately 5 to 10 minutes prior to the scheduled start
time:
US and Canada
(toll
free):
|
+1 888 424 8151
|
France/Continental
Europe:
|
+33 17 225 9001
|
UK:
|
+44 203 147 4824
|
Passcode:
|
9318 071#
|
For a complete listing of local and international telephone
numbers, please click on this link:
http://web.meetme.net/r.aspx?p=11&a=UXUVCOvvJFRufh
The event will be webcast simultaneously and can be accessed
at http://ir.fmctechnologies.com/ or
http://investors-en.technip.com. Those interested in the
webcast should go to the website at least 10 minutes before the
call to register.
An online audio replay of the call will be available at
approximately 8 p.m. Paris / 2:00
p.m. Houston time on
March 23. An audio replay will also
be available through April 22 by
dialing +1 888 843 7419 (U.S. and Canada) or +1 630 652 3042 (International) and
enter the passcode 9318 071#.
About FMC Technologies
FMC Technologies, Inc. (NYSE: FTI) is the global market
leader in subsea systems and a leading provider of technologies and
services to the oil and gas industry. We help our customers
overcome their most difficult challenges, such as improving shale
and subsea infrastructures and operations to reduce cost, maintain
uptime, and maximize oil and gas recovery. Named by Forbes®
Magazine as one of the World's Most Innovative Companies in 2013,
the company has more than 20,000 employees and operates 24
production facilities in 14 countries. Visit
www.fmctechnologies.com or follow us on Twitter @FMC_Tech
for more information.
About Technip
Technip is a world leader in project management, engineering
and construction for the energy industry.
From the deepest Subsea oil & gas developments to the
largest and most complex Offshore and Onshore infrastructures, our
38,000 people are constantly offering the best solutions and most
innovative technologies to meet the world's energy
challenges.
Present in 48 countries, Technip has state-of-the-art
industrial assets on all continents and operates a fleet of
specialized vessels for pipeline installation and subsea
construction.
Technip shares are listed on the Euronext Paris exchange and
traded in the USA on the OTCQX
marketplace (OTCQX: TKPPY).
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SOURCE FMC Technologies, Inc.